It is a holiday week with Christmas eve tomorrow and Christmas day on Wednesday breaking up the action. Nevertheless the markets will be open in the US on Monday and again on Tuesday for a portion of the day. The US stock market will close early on Tuesday at 1 PM ET, while the Bon market will close at…
Oil prices trade broadly sideways on Monday, erasing gains from the early Asian session. Markets are pushing equities and commodities higher after the soft PCE inflation release. The US Dollar Index trades flat close to a two-year high. Crude Oil prices consolidate on Monday, with WTI hovering above $69, with some room to the upside as market sentiment improves…
2024.12.23 2024.12.23 Yen Retains Bearish Bias Following BoJ Rate Decision. Forecast as of 23.12.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ The economy determines the exchange rate. If the economy is strong and inflation is above the target, then rates should be raised. The BoJ is refusing to make a rate hike. It has kept borrowing costs at 0.25%, spurring USDJPY quotes. Let’s discuss…
The changes on the day are light and it reflects the lack of appetite or incentive among traders to chase anything on the week. It’s one of those times in markets where there isn’t much of a point in trying to make sense of any moves as trading conditions are exacerbated by thin liquidity. I mean it is the…
The Japanese Yen struggles to capitalize on Friday’s modest recovery gains against the US Dollar. Doubts over BoJ’s rate hike plan and elevated US bond yields weigh on the lower-yielding JPY. Traders now look to the US Consumer Confidence Index for short-term impetus later this Monday. The Japanese Yen (JPY) remains on the back foot against its American counterpart through…
2024.12.23 2024.12.23 Short-Term Analysis for BTCUSD, XRPUSD, and ETHUSD for 23.12.2024 Roman Oneginhttps://www.litefinance.org/blog/authors/roman-onegin/ Dear readers, I’ve prepared a short-term forecast for Bitcoin, Ripple, and Ethereum based on the Elliott wave analysis. The article covers the following subjects: Major Takeaways BTCUSD: The price may be correcting to the downside. Consider short positions from the current level with Take Profit at 91,965.00….
Prior +0.5%; revised to +0.4% GDP +0.9% vs +1.0% y/y prelim Prior +0.7% The negative revision means that the UK economy stagnated in Q3, with economic conditions stuttering in the second half of the year. The pressure is starting to build for the BOE, even as price pressures haven’t quite come down as quickly as they are hoping for….
USD/CHF trades in positive territory near 0.8935 in Monday’s early European session. The hawkish Fed rate cut underpins the US Dollar. The rising geopolitical risks could boost the safe-haven flows, capping the downside for the CHF. The USD/CHF pair gains traction to around 0.8935, snapping the two-day losing streak during the early European session on Monday. The hawkish rate…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you…
The Australian Dollar appreciates as softer US PCE data revive hopes of the Fed’s further policy easing in 2025. The AUD receives downward pressure as the RBA may begin rate cuts in February. CME FedWatch tool suggests a more than 90% probability of the Fed keeping rates unchanged in January. The Australian Dollar (AUD) steadies following two days of gains…
